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5 things to consider while buying used commercial trucks

Image of a truck to denote used commercial truck

How to determine if a used commercial truck is right for you?

Logistics owners, fleet managers and truck owner-operators often buy a new truck when they have to replace the existing truck due to wear and tear or to upgrade. However, buying a used commercial truck can be equally beneficial in terms of less depreciation, initial cost savings, performance capabilities and a wide range of models. Therefore, if you are on a budget and require multiple trucks to maximize productivity, finding old commercial trucks for sale is the ideal solution.

There are a number of benefits of buying used commercial trucks. For instance, you can buy a pre-owned commercial truck with better features and efficiency for an affordable cost than to buy a new truck with less features and efficiency as top models cost a lot more than the basic models. Moreover, the moment new trucks hit the road it depreciates in value while second hand commercial trucks can be resold for the same price or a little lesser than what it was bought for during the sale. 

Where can you find used commercial trucks for sale?

There are a wide range of options for second-hand commercial trucks that it can be difficult to know where to invest your money. To ensure that you are buying from a reliable source and getting a quality vehicle, it is important to do your research on each dealer before making any purchase.

You can find dealers within your locality through mutual contacts or find dealers across the country through other sources of information available in advertisements or on the internet. Moreover, you can also locate the right truck dealers by utilizing the service of a broker or agency that specializes in connecting buyers and sellers of commercial trucks in return for a commission. However, you can also find used commercial trucks for sale on online platforms with all the required information, a simple booking process and multiple payment options.

5 things to consider while buying used commercial vehicles

There is a list of things you should know before buying used commercial trucks including available options, truck history, overall expenses, documentation, insurance and warranty.

  • Explore multiple options: Before finalizing the purchase of a commercial vehicle, it is important to explore all available alternatives. Make sure to compare prices between different dealers and analyze the features offered in each option. With this approach, you can ensure that you make an informed decision while acquiring your desired pre-owned commercial truck.

  • Analyze truck history: When looking to invest in a second-hand commercial truck, make sure you check out its maintenance records and mileage, along with understanding its history to know if it has been on any accident records or if it is an illegally sourced or stolen vehicle. Additionally, always perform background checks on the current owner or dealer to ensure value for money.

  • Evaluate overall expenses: Before making a final decision, assessing Total Cost of Ownership (TCO) is crucial. Not only should you consider the purchase cost and ownership expenses like repair or replacement costs and insurance premiums, but also remember to consider potential resale value as well.

  • Consider documentation: In order to safeguard yourself against buying a stolen truck, always request proof of ownership. Moreover, for a seamless transition of ownership, it is highly advised to obtain both a title transfer and bill of sale. Because, in case of any issues you will have the proof to request a reimbursement or take legal action.

  • Ensure insurance & warranty: If you are hesitant when it comes to buying an old commercial truck for sale, asking for a warranty or value added services is recommended. Moreover, you should also check the existing insurance coverage and consider other insurance policies if needed.

Why should you use an escrow service to buy used trucks?

The best solution to secure a successful transaction when buying used commercial trucks by utilizing an escrow service. Escrow services act as a reliable third-party, ensuring all payments are exchanged on schedule and that any goods promised during the deal arrive promptly. For instance, you can utilize AxleEscrow to have secure transactions for pre-owned commercial trucks.

Let’s Wrap Up!

Buying used commercial trucks has its set of advantages including less depreciation, initial cost savings, performance capabilities and a wide range of models. You can buy pre-owned commercial trucks from dealers nearby or across the country, or locate dealers through a broker or agency and even buy old commercial trucks for sale on an online platform. However, you should consider a few things before buying second hand commercial trucks including available options, truck history, overall expenses, documentation, insurance and warranty. You can always use an Escrow service to ensure secure transactions.

Axlerate is a unified platform for Logistics management, payments and services. Our solutions help to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.

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